Political entrepreneurs: Amassing enormous wealth-IV

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There is a whole class of sneaky behaviour that is designed to move money from one pocket to another under, especially in the stock market and other markets. These con games are often just greedy and dishonest

CJ: Vinod Anand

Tue, Dec 01, 2009 09:47:04 IST

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THERE IS no dearth of such instances. Several high profile politicians have been accused of scams or having assets far beyond their known sources of income. This really is highly shameful for India, the emerging nation in terms of growth. Had these scams and corrupt practices been not there, India would have surpassed China long back.

According to a study conducted by the Delhi-based Think Tank National Institute of Public Finance and Policy, the size of the parallel economy in the country could be around Rs 16 lakh crore (Rs 16.90 trillion) or 40 per cent of India’s gross domestic product- the market value of all goods manufactured and services generated in a year.

Let us define what exactly scam reflects:

It is a confidence trick or confidence game (also known as a bunko, con, flim-flam, gaffle, grift, hustle, scam, scheme, or swindle) is an attempt to defraud a person or group by gaining their confidence. The victim is known as the mark.

Let us now briefly look at scams in various countries:

There is a whole class of sneaky behaviour that is designed to move money from one pocket to another under, especially in the stock market and other markets. These con games are often just greedy and dishonest, but can sometimes be clever and creative as well.

They make a big deal about these crooked schemes if there weren’t such a cross-pollination between the most dishonest bamboozles and the sales pitches that fall like rain in every part of the world where mass media and commerce tryst.

Perhaps you have heard of Charles Ponzi’s famous scheme. The classic bubble has been repeated in various forms ever since, the chaos left in their wake toppled the government of Albania in 1997, and yet more recently, caused no end of trouble in South Africa.

Ivar Kreuger built a marvelous bubble out of a match company early in the last century, but it collapsed in dramatic fashion in the wake of the 1929 stock market crash.

Pyramid Schemes (like the ‘make money fast’ epidemic) — Ponzi on a Xerox budget — are only a percentage of the many scams to proliferate online. An early favourite: the sexy girls’ scam, in which a ‘free’ programme for viewing naughty pictures quietly took over the users’ modems to call pricy toll-numbers in Moldova.

There are many cases where the bureaucrats, banker or royal toadies, who wants to cut you and only you, in on the financial deal of a lifetime. They skim public accounts or in other ways move vast amounts of cash into your hands. There is no money to be moved except yours. Palms must be greased, with your money. A few K here, a few K there eventually you get wise and retire to lick your wounds.

Other versions of the scam play on your sense of charity, your loneliness, or your naiveté. Orphan, cancer patient, dead bank customer, phony job offer, overpayment with a cashier’s check, different names or countries and same scam. You may be shown pictures of ‘money’.

Setting aside the scammers’ willingness to take your last penny, the letters are funny. Read them out loud at parties and see. About 125 letters introduce the literary genre of the lads from Lagos.

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Posted comments (2)

	Dear Reader,You have really added to what I have written in my Paper. It is about pollution. The government is supposed to increase the overall well-being of the people in general.There are, in fact many ways to do this.What you have suggested to eliminate pollution is really worthwhile.Thank you.Vinod Anand CJAllahabad
	\| 03 December 2009 Reply to Comment \| New Comment \| Report Abuse

	Mr. Jairam Ramesh should attempt to make a vision statement as to how to reduce three pollutants in the country :(1) Air Pollution (2) Water Pollution and (3) Noise Pollution. Perhaps, he can take expert advice from various expert consultants. If these three pollutants are greatly checked, I am sure, there will be lots of good happeningto the environment in the country. Regarding water pollution, Centre seems to be interested only in sanctioning moneyfor cleaning of rivers but not concerned it the governance part - therefore, the vision statement must include howeach penny earmarked goes in cleaning of the rivers. some drain water mains have filter covers with sign boardssaying 'PLEASE DO NOT POLLUTE OR DROP THINGS" AS THIS WATER GOES TO THE SEA". Similar, sign boards should appearin many places in the country.
	\| 02 December 2009 Reply to Comment \| New Comment \| Report Abuse